Latest RMB bond news

  • Car crash: Issuer’s Panda outing struggles

    Hong Kong-listed Car was caught in the eye of an onshore storm this week as bond investors retreated after initial excitement over the central bank’s move to boost liquidity. But the borrower found joy elsewhere — from a visit to the dim sum bond market. Noah Sin reports.

    • 12:00 PM
  • GLP braves uncertainties for Panda return

    Logistics company GLP is returning to the Panda bond market for the fifth time this year, hoping to raise up to Rmb4bn ($634.3m) on the Shenzhen Stock Exchange. Its outing comes at a slightly difficult period in China’s onshore bond market.

    • 25 Apr 2018
  • More than a fender bender: Car’s Panda hit by onshore squeeze

    Investors gave Car’s first Panda bond in a year the cold shoulder on Monday, forcing the company to shrink its deal. The red-chip borrower suffered as onshore investors retreated following initial excitement over the central bank’s announcement to boost liquidity and braced for the tax collection season.

    • 25 Apr 2018
  • China ABS: Liquidity boost lifts FAF’s floating combo

    Fortune Auto Finance sold two floating tranches in China’s securitization market on April 20. It captured the onshore market’s optimism on the back of the People’s Bank of China’s announcement last week to release extra liquidity through a reserve requirement ratio (RRR) cut.

    • 24 Apr 2018
  • FAF leads charge as foreign autos eye ABS, vanilla RMB bonds

    Fortune Auto Finance (FAF) is approaching onshore investors with a Rmb3bn ($477.5m) transaction on Friday. The auto company is coming to the market as a number of foreign originators unveil their plans to raise more onshore RMB — from both structured and vanilla fixed income deals.

    • 20 Apr 2018
  • IDA delights in dollars with other SDR currencies to come

    Public sector bankers lined up to laud a new SSA borrower this week, as the International Development Association (IDA) surpassed expectations on its bond debut. Now, many are eager to see the its next move, with many anticipating a Washington supranational with greater currency flexibility, writes Craig McGlashan.

    • 19 Apr 2018
  • Updated: UOB makes a splash in China DCM

    United Overseas Bank’s subsidiary in China has printed its first bond in the country, a Rmb1bn ($159m) three year note. The Singaporean lender joins a small group of foreign financial institutions that have raised onshore funding through their China arms.

    • 18 Apr 2018
  • IDA ‘in line with World Bank’ on dollar benchmark debut, other currencies to follow

    The International Development Association wowed on-looking SSA bankers with its debut bond issue on Tuesday, with some saying it printed in line with sister issuer World Bank (International Bank for Reconstruction and Development). The borrower opted for dollars with its first trade, but is likely to be a regular name in the currencies making up the IMF’s special drawing right basket.

    • 17 Apr 2018
  • BNPP: Govvies, NCDs to remain foreign favourites in China

    A new group of investors is set to arrive in China's bond market as index providers prepare to include Chinese bonds in their benchmarks. But these new entrants will likely follow the path set by institutional investors in China, sticking with government bonds and short-dated paper, according to BNP Paribas.

    • 17 Apr 2018
  • China's onshore dollar bond market to take off, says BNPP

    China's onshore dollar bond market could provide an alternative to quota-based outbound investment schemes, allowing banks a novel way of deploying their dollar deposits, according to a senior trader at BNP Paribas.

    • 17 Apr 2018

RMB bond news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.04
2 Agricultural Bank of China (ABC) 15.83
2 CITIC Securities 15.83
4 China CITIC Bank Corp 14.25
5 Industrial and Commercial Bank of China (ICBC) 11.08

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 23-Apr-18 CAR Inc Hong Kong 730
2 11-Apr-18 China Jinmao Holdings China 3,000
3 11-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
4 04-Apr-18 China Resources Land China 4,000
5 03-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 4,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 31.68
2 HSBC 13.57
3 Bank of Taiwan 5.50
3 Cathay United Bank 5.50
5 Societe Generale Securities Services 4.77

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 24-Apr-18 CAR Inc China 350
2 19-Apr-18 Shui On Development (Holdco for Shui On Land) China 600
3 10-Apr-18 Bank of China Taipei Branch (BOC Taipei) China 3,000
4 27-Mar-18 Daimler International Finance Germany 1,000
5 26-Mar-18 CAR Inc China 400